National Banks and Federal Savings Associations as Lenders
| Published date | 05 August 2021 |
| Citation | 86 FR 42686 |
| Record Number | 2021-16619 |
| Section | Rules and Regulations |
| Court | The Comptroller Of The Currency Office |
42686
Federal Register / Vol. 86, No. 148 / Thursday, August 5, 2021 / Rules and Regulations
Atomic Energy Act of 1954, as amended;
the Energy Reorganization Act of 1974,
as amended; the Nuclear Waste Policy
Act of 1982, as amended; and 5 U.S.C.
552 and 553; the NRC is adopting the
following amendments to 10 CFR part
72:
PART 72—LICENSING
REQUIREMENTS FOR THE
INDEPENDENT STORAGE OF SPENT
NUCLEAR FUEL, HIGH-LEVEL
RADIOACTIVE WASTE, AND
REACTOR-RELATED GREATER THAN
CLASS C WASTE
■1. The authority citation for part 72
continues to read as follows:
Authority: Atomic Energy Act of 1954,
secs. 51, 53, 57, 62, 63, 65, 69, 81, 161, 182,
183, 184, 186, 187, 189, 223, 234, 274 (42
U.S.C. 2071, 2073, 2077, 2092, 2093, 2095,
2099, 2111, 2201, 2210e, 2232, 2233, 2234,
2236, 2237, 2238, 2273, 2282, 2021); Energy
Reorganization Act of 1974, secs. 201, 202,
206, 211 (42 U.S.C. 5841, 5842, 5846, 5851);
National Environmental Policy Act of 1969
(42 U.S.C. 4332); Nuclear Waste Policy Act
of 1982, secs. 117(a), 132, 133, 134, 135, 137,
141, 145(g), 148, 218(a) (42 U.S.C. 10137(a),
10152, 10153, 10154, 10155, 10157, 10161,
10165(g), 10168, 10198(a)); 44 U.S.C. 3504
note.
■2. In § 72.214, revise Certificate of
Compliance No. 1015 to read as follows:
§ 72.214 List of approved spent fuel
storage casks.
* * * * *
Certificate Number: 1015.
Initial Certificate Effective Date:
November 20, 2000.
Amendment Number 1 Effective Date:
February 20, 2001.
Amendment Number 2 Effective Date:
December 31, 2001.
Amendment Number 3 Effective Date:
March 31, 2004.
Amendment Number 4 Effective Date:
October 11, 2005.
Amendment Number 5 Effective Date:
January 12, 2009.
Amendment Number 6 Effective Date:
January 7, 2019.
Amendment Number 7 Effective Date:
July 29, 2019.
Amendment Number 8 Effective Date:
October 19, 2021.
SAR Submitted by: NAC
International, Inc.
SAR Title: Final Safety Analysis
Report for the NAC–UMS Universal
Storage System.
Docket Number: 72–1015.
Certificate Expiration Date: November
20, 2020.
Model Number: NAC–UMS.
* * * * *
Dated: July 26, 2021.
For the Nuclear Regulatory Commission.
Margaret M. Doane,
Executive Director for Operations.
[FR Doc. 2021–16702 Filed 8–4–21; 8:45 am]
BILLING CODE 7590–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 7
[Docket ID OCC–2020–0026]
RIN 1557–AF11
National Banks and Federal Savings
Associations as Lenders
AGENCY
: Office of the Comptroller of the
Currency, Treasury.
ACTION
: Final rule; Congressional
Review Act revocation.
SUMMARY
: Under the Congressional
Review Act (CRA), Congress has passed
and the President has signed a joint
resolution disapproving the Office of the
Comptroller of the Currency’s (OCC)
final rule titled ‘‘National Banks and
Federal Savings Associations as
Lenders.’’ This final rule established a
test to determine when a national bank
or Federal savings association (bank)
makes a loan and is the ‘‘true lender,’’
including in the context of a
relationship between a bank and a third
party, such as a marketplace lender.
Under the joint resolution and by
operation of the CRA, this rule has no
legal force or effect. The OCC is hereby
removing it from the Code of Federal
Regulations.
DATES
: This action is effective August 5,
2021.
FOR FURTHER INFORMATION CONTACT
:
Andra Shuster, Senior Counsel, Karen
McSweeney, Special Counsel, Alison
MacDonald, Special Counsel, or
Priscilla Benner, Senior Attorney, Chief
Counsel’s Office, (202) 649–5490, Office
of the Comptroller of the Currency, 400
7th Street SW, Washington, DC 20219.
For persons who are deaf or hearing
impaired, TTY users may contact (202)
649–5597.
SUPPLEMENTARY INFORMATION
: On July
22, 2020, the Office of the Comptroller
of the Currency (OCC) published in the
Federal Register a notice of proposed
rulemaking proposing a test to
determine when a national bank or
Federal savings association (bank)
makes a loan and is the ‘‘true lender’’
(85 FR 44223). The OCC published the
final rule, titled ‘‘National Banks and
Federal Savings Associations as
Lenders’’ and codified at 12 CFR 7.1031,
in the Federal Register on October 30,
2020 (85 FR 68742). The final rule
provided that a bank makes a loan if, as
of the date of origination, it (1) is named
as the lender in the loan agreement or
(2) funds the loan. The final rule became
effective on December 29, 2020.
The United States Senate passed a
joint resolution (S.J. Res. 15) on May 11,
2021 disapproving of the rule under the
Congressional Review Act (CRA) (5
U.S.C. 801 et seq.). The United States
House of Representative passed S.J. Res.
15 on June 24, 2021. President Joseph R.
Biden signed the joint resolution into
law as Public Law 117–24 on June 30,
2021. Under the joint resolution and by
operation of the CRA, the rule has no
legal force or effect. Accordingly, the
OCC is hereby removing 12 CFR 7.1031
from the Code of Federal Regulations
(CFR).
This action is not an exercise of the
OCC’s rulemaking authority under the
Administrative Procedure Act (APA)
because the OCC is not ‘‘formulating,
amending, or repealing a rule’’ under 5
U.S.C. 551(5). Rather, the OCC is
effectuating changes to the CFR to
reflect what congressional action has
already accomplished. Accordingly, the
OCC is not soliciting comments on this
action, nor is it delaying the effective
date.
List of Subjects in 12 CFR Part 7
Computer technology, Credit,
Derivatives, Federal savings
associations, Insurance, Investments,
Metals, National banks, Reporting and
recordkeeping requirements, Securities,
Security bonds.
Office of the Comptroller of the
Currency
For the reasons set forth above, and
pursuant to the CRA (5 U.S.C. 801 et
seq.) and Public Law 117–24, 135 Stat.
296, the OCC amends 12 CFR part 7 as
follows:
PART 7—ACTIVITIES AND
OPERATIONS
■1. The authority citation for part 7
continues to read as follows:
Authority: 12 U.S.C. 1 et seq., 25b, 29, 71,
71a, 92, 92a, 93, 93a, 95(b)(1), 371, 371d, 481,
484, 1462a, 1463, 1464, 1465, 1818, 1828,
3102(b), and 5412(b)(2)(B).
§ 7.1031 [Removed]
■2. Remove § 7.1031.
Michael J. Hsu,
Acting Comptroller of the Currency.
[FR Doc. 2021–16619 Filed 8–4–21; 8:45 am]
BILLING CODE 4810–33–P
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